Possibly buying STLA
A close this week above $12 would be a good reason to buy a small position.
Based on the 1 Week chart (this week's candle will close tomorrow) STLA is bouncing off of the long term support area of $11.00.
Besides the panic selling of 2020, it has respected this former resistance level strictly in July 2022 and October 2022; with large immediate bounces following a quick tap of this level. After the October 2022 bounce, the price set a new all time high about 18 months later, +250% from this level.
Over the past six months the stock has ricocheted in a range between $12 and $14, with a drop-out being quickly bought up this week when it dropped the $12 price level.
It does make me a bit nervous that the price has consolidated near the $11 support level for about six months, and the only significant move out of this range was to the downside; even though it has been bought up so far this week.
So I'm going to hold off until this week's candle closes before potentially buying, just to ensure that the bounce under $12 and off $11 is legitimate.